New Delhi: Falling sales have forced the country's largest car maker Maruti Udyog to announce a one-day shutdown on Friday of its production facilities in Manesar and Gurgaon. This is the first time Maruti has shut down its diesel car production at Manesar. The company said that it needs to reduce its inventory levels.
The day-long shutdown at its two plants comes ahead of a six-day scheduled maintenance closure later this month. The shutdown is to adjust production to market demand, a company spokesperson said, adding that the plants will also remain closed on June 8 for a scheduled holiday, the spokesperson added. "The scheduled maintenance shutdown (of the two plants) is from June 17 to June 22," the spokesperson said.
The development comes in the wake of continued slump in the automobile market. MSI had reported 14.4 per cent decline in its total sales in May this year at 84,677 units. It's domestic sales declined 13 per cent at 77,821 units, over 89,478 units in May, 2012.
Maruti has been producing about 5,000 units per day from its Gurgaon and Manesar plants. The company at present has a total installed annual capacity of about 15 lakh units, which will go up to 17.5 lakh units by September this year when its third unit at Manesar goes onstream....
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09:47 AM, Jun 07, 2013
New Delhi: The country's largest car maker Maruti Suzuki India today said Life Insurance Corporation of India has sold 2.53 per cent stake in the company over a period of almost six months. Post-sale, LIC's stake in Maruti Suzuki India (MSI) has come down to 8.247 per cent currently from 10.777 per cent earlier, the auto maker said in a filing to the BSE. LIC sold 62,23,598 equity shares, representing...
02:59 PM, May 21, 2013
The country's largest car maker Maruti Suzuki India (MSI) today reported 7.89 per cent decline in its total sales at 1,09,567 units in February 2013. The company had sold 1,18,949 units in the corresponding month last year, MSI said in a statement. ...
12:00 PM, Mar 01, 2013
New Delhi: The country's largest car maker Maruti Suzuki India on Thursday said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January due to increasing pressure on its margins due to currency fluctuation. "There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000," Maruti Suzuki India...
02:11 PM, Dec 06, 2012
New York: The country's largest car maker Maruti Suzuki India (MSI) on Thursday reported 85.46 per cent increase in total sales at 1,03,108 units in October. The company had sold 55,595 units in the same month in 2011, the company said in a statement. In October, MSI recorded domestic sales of 96,002 units compared to 51,458 units in the year-ago period, registering a rise of 86.56 per cent, it added....
12:22 PM, Nov 01, 2012
New Delhi: The country's largest car maker Maruti Suzuki India on Tuesday reported 5.41 per cent decrease in net profit at Rs 227.45 crore for the quarter ended September 30 due to lower sales, mainly of petrol models. The average discounts on the models, especially petrol run, were all-time high during the July-September quarter. The company had posted a net profit of Rs 240.45 crore in the corresponding period in...
04:48 PM, Oct 30, 2012
New Delhi: The country's largest car maker Maruti Suzuki India on Wednesday said it has hiked prices of its all models by up to Rs 5,250 with immediate effect to offset adverse impact of foreign exchange fluctuation and rising input costs. "The average hike in the price across models is around 1 per cent and the range will be between Rs 2,500 and Rs 5,250," a company spokesperson said. The...
02:21 PM, Oct 03, 2012
New Delhi: Maruti Suzuki India on Tuesday said it is "examining" having more diesel engine capacity than it has currently planned in order to have an overall 40 per cent market share in the domestic passenger vehicle market. "If we want to have 40 per cent of market share, we would have to have more diesel cars and engines," Maruti Suzuki India (MSI) Chairman R C Bhargava said. Addressing shareholders...
06:27 PM, Aug 28, 2012
In an exclusive interview to CNBC TV18's Shereen Bhan, Maruti Suzuki chairman RC Bhargva said it would not be surprising to see the unions taking the matter to court. ...
05:08 PM, Aug 21, 2012
New Delhi: After a month-long lockout at its Manesar facility, Maruti Suzuki India is ready to reopen the plant on Tuesday with less than a tenth of its total workforce slated to resume operations in a single shift. The company had declared an indefinite lockout at the Manesar plant on July 21 following the worst ever violence in its history on July 18 that left one senior official dead and...
05:00 PM, Aug 20, 2012
New Delhi/Chandigarh: Maruti Suzuki India (MSI) on Wednesday said that it has run out of stock of its two best selling models - Swift and DZire - which are produced at the Manesar plant, where it has declared lockout following violence last week. "We do not have any stock of Swift and DZire at our factory. About 10,000 cars of both the models are on transit and that is the...
08:20 AM, Jul 26, 2012
New Delhi: Following the unrest at Maruti's Manesar plant, company sources have told CNN-IBN that the supply of their most popular models Swift and Swift Dzire will be hit if the production doesn't resume soon. Currently about 18,000 cars are in stock and dispatches are still happening. The plant has been shut indefinitely but the management is not ready for any compromise. In fact, sources say it is likely that...
02:36 PM, Jul 24, 2012
Gurgaon: Six more workers have been arrested for their alleged involvement in arson and rioting in Maruti Suzuki's Manesar plant on Wednesday, the police said on Sunday. Awanish Dev, General Manager-HR, died and 100 others were injured in the incident. Those arrested have been identified as Sohan Lal, a resident of Karnal, Yogesh Kumar, organising secretary of Maruti Suzuki Union and a resident of Jhajjar, Surender Pal of Palwal district,...
07:33 PM, Jul 22, 2012
Maruti Suzuki has declared a lock out at its violence hit Manesar plant, Chairman RC Bhargava said on Saturday. ...
09:34 PM, Jul 21, 2012
New Delhi: Violence-hit Maruti Suzuki on Saturday declared an indefinite lockout at its Manesar plant but firmly ruled out the possibility of shifting operations to Gujarat. "There is no possibility of removing the plant from Manesar. Such reports are absolutely fictitious," said Maruti Suzuki India (MSI) Chairman RC Bhargava said at a press conference in New Delhi. The company said it was completely overtaken by the 'Tsunami-like' violence that it...
09:01 PM, Jul 21, 2012
Chandigarh: The Haryana government on Saturday termed the lockout by Maruti Suzuki at its Manesar facility as "appropriate". "If they (Maruti) have announced it (lockout) then it is appropriate considering what workers have done at Manesar facility," Haryana Labour and Employment Minister Shiv Charan Lal Sharma said. He added that the company must have announced lockout "after giving some careful thought". Maruti Suzuki's General Manager Human Resources Awanish Kumar Dev...
08:30 PM, Jul 21, 2012
New Delhi: Calling the violence at its Manesar plant "shattering", Maruti Chairman RC Bhargava on Saturday said that the automobile manufacturer was doing its best to tackle the mess. "What happened was a shattering incident. We are tackling the mess," he said at a press briefing. Bhargava said that the company never imagined its own workers would indulge in violence. "There was no victimization of workers at the unit. Problems...
04:04 PM, Jul 21, 2012
Over 1,000 policemen have now been deployed at the factory and work has been suspended indefinitely. ...
11:50 PM, Jul 19, 2012
The situation remains tense at Maruti's Manesar plant after a tussle took place between workers and the management on Wednesday. ...
10:03 PM, Jul 19, 2012
Gurgaon: As the Maruti workers and management blamed each other for the unrest at the Manesar plant, almost 100 workers were arrested on Thursday. Over 1,000 policemen have now been deployed at the factory and work has been suspended indefinitely. Here is the Maruti Suzuki's statement on Manesar unrest: We are deeply disturbed by the mob violence and arson at our Manesar Plant on Wednesday evening. Several executives, managers and...
04:24 PM, Jul 19, 2012
